Yes you are eligible to do PhD. in Management, but the thing is that no regular university will allow this. The reason is that every regular university has the general norm of admitting candidates for PhD. if and only if they have done a subsequent master's degree on that subject and that too with minimum 55% marks.
But in distance university you have some flexibility. You are allowed to do PhD. on fulfillment of either of the criteria.
a) You have an M.Phil. in the respective subject. with marks of 55% or above.
b) You have a Master's degree in the respective subject. with marks of 55% or above.
c) You have a degree equivalent to Master's degree and 5 years of working experience in any industry or academic sector.
If either one is true you can sit for the admission test of PhD. in a distance education course like IGNOU. Log onto IGNOU's official website, www.ignou.ac.in and download the application form for PhD.